Yeah, Lucas's psi magnet just isn't what it used to be (so much lag on both the start and the release now), and neither is his down aerial. it's way too difficult to land the one hit that matters, the last, delayed 3rd hit that actually spikes and deals decent damage, the pittance of damage from the first two isn't worth the amazing about of risk inherent in attacking anyone with a down aerial. His up smash is far more vertical than it used to be and leaves him vulnerable for much longer than it used to. Oh, and it takes longer to actually throw out there, so it's easily seen coming and dodged. It still hits like a truck but it's barely usable anymore. They have to be DIRECTLY above lucas for it to hit, no one is gonna do that. The same thing with his up tilt. It goes straight up, so you'd have to be standing IN your opponent's face before it'll hit anything, where as you have a nice horizontal range on Ike's up tilt and even Ryu's uptilt fist.
They nerfed the damage and knockback of his third jump, but it does launch him further than it used to and it's easier to recover from below the stage with it now, instead of always having to approach the ledge from out on the side. The power and knockback of his forward smash was decreased a great deal, which makes sense, considering it's just a stick and comes out much faster than ness's bat. I expected that to happen. His up air has noticeably less launching power, is much harder to land somehow, and does less damage. Oh, and they slowed down the rate at which you can fire pk fires. They fucked up his neutral air like they did with mewtwo's, it hits multiple times for shit damage until the last hit, at which point you generally can't get to hit cuz you've landed on the ground by then.
They did improve his throw by giving the snake more range, so now it's more like samus and link's, making it so much more usable now. His moves that have the shine to them, like Fair, dash attack, Bair, have sweet spots now that do good damage if you hit them with the shine, so there's that I guess. But when the fair does 8% normally and 11% on sweet spot, the only thing going for it is the boost to its launch, which he really needs.
Overall, he has been severely nerfed. He can still rack up some damage, but he has a severe lack of kill moves. Up smash is pretty much it and you can't land that nearly as easily as you used to. Oh, down smash too, but that has a much shorter range in front of him than it used to so you basically have to trick your opponent to roll into it. I have to rack up damage very nearly to 200% to start killing people with moves that you can actually land or even with one of his throws.
Lucas still does well... he just can't kill. Like Godot's complaints about Fox. Hmm...
They definitely neutered him this game. I expect a severe rehaul for him in the next patch.